Case of an accomplice in the embezzlement of USD 1.2 million from the Titanium Institute is brought to court

An indictment against an accomplice in the implementation of a criminal scheme to seize more than $1.2 million of SE "State Research and Design Institute of Titan" has been sent to court, UNN reports this with reference to SAPO.

Details

"Based on the NABU pre-trial investigation, the SAPO prosecutor sent to court an indictment against an accomplice in the implementation of a criminal scheme to seize more than $1.2 million. The prosecutor of the SAPO has filed an indictment against an accomplice in the implementation of a criminal scheme to embezzle more than USD 1.2 million from the State Research and Design Institute of Titan," the statement said.

It is reported that the pre-trial investigation established that the first deputy director general of a state-owned enterprise, with the complicity of the co-owner and president of an offshore company (British Virgin Islands), contrary to the interests of the state-owned enterprise, entered into an agency agreement, Annex 1 thereto and signed acceptance certificates, on the basis of which more than USD 1.2 million was transferred for services and works that were not provided and not performed.

"Part of these funds were transferred to the accounts of another company, and the accused transferred the other part to his wife's account as a reward for aiding and abetting," the SAPO informs.

The SAPO noted that on April 20, 2022, the first deputy director general of the State Research and Design Institute of Titan, Andriy Rachkov, was sentenced to 10 years in prison.

Addendum

On July 19, 2019, NABU detectives detained the former First Deputy Director General of the State Research and Design Institute of Titanium, and SAPO prosecutors notified him of suspicion of causing $1.258 million in damage to the institution. The former first deputy director general of the state research and design institute of titanium was suspected of causing USD 1.258 million damage to this institution.

The case of the former First Deputy Director General of the State Enterprise "State Research and Design Institute of Titanium" was the first one that the SAPO and NABU sent to the Anti-Corruption Court.